Young family wins bidding war to splash $2.61m on renovated four-bedder
Sydney Morning Herald
by Shona HendleyFebruary 23, 2026
AI-Generated Deep Dive Summary
A young family in Yarraville won a fierce bidding war at an auction in Ascot Vale, purchasing a renovated four-bedroom Californian Bungalow for $2.61 million—$460,000 above its reserve of $2.15 million. The property, located at 16 Brown Street, attracted strong competition from two young families during the auction, which selling agent Ryan Currie described as "crazy." The home's appeal lay in its warm family atmosphere, saltwater pool, and prime location near sought-after schools and the Maribyrnong River.
The sellers, a downsizing couple preparing for retirement, had purchased the property 20 years ago when they too were raising young children. For them, this sale marked a "full circle" moment, reflecting how much the neighborhood and home had grown over the decades. The last recorded sale of the property was in 2002 for $650,000, highlighting its significant appreciation over the years. Currie noted that the Ascot Vale market has remained strong, with high demand driving competitive auctions.
In another notable auction outcome, a first-home buyer outbid an investor for a three-bedroom townhouse in Abbotsford, paying $1.3 million—a $100,000 premium over its reserve. The property's renovation and strategic location near schools contributed to the fierce bidding. Selling agent Mat Suckling emphasized that the market's unpredictability had led some potential buyers to miss out, warning that not attending auctions could cost them valuable opportunities.
Meanwhile, an ex-commission home in Coburg North sold for $820,000, exceeding its reserve of $700,000 and attracting six active bidders, many of whom were first-home buyers. The property's heritage charm and solid construction drew interest despite its "run-down" state. These auction results underscore the ongoing demand for housing in Melbourne, where competitive bidding continues to drive prices
Verticals
worldaustralia
Originally published on Sydney Morning Herald on 2/23/2026